Many people will have Lasting Powers of Attorney in place to allow their financial and property affairs to be dealt with in the event of them losing mental capacity or needing help with their affairs at some time in the future should they need it.

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From a financial planning perspective this is one of the essential elements of a good financial plan. 

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Properly drafted this can give attorneys access to digital services such as online banking, which helps the attorney to get easy access to the donors account to make changes and obtain information to enable them to keep accurate records and of course deal with the donors account quickly and efficiently. 

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However not all banks allow access to donors accounts digitally as I have just discovered from personal experience as an Attorney. 

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Even though the LPA expressly gives access to digital assets, the bank are refusing to give it and insisting on written instructions with a wet signature from me for any information or transactions on the account. 

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For more information please get in touch, we look forward to hearing from you.